Global Markets: Canada gains international support for detainees

By Commodity News Services Canada

WINNIPEG, Dec. 24 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Canadian Minister of Foreign Affairs Chrystia Freeland continues to build international support for two Canadians detained in China. Former diplomat Michael Kovrig and entrepreneur Michael Spavor were detained by Chinese authorities following the arrest of Huawei Chief Financial Officer Meng Wanzhou in Vancouver at the request of the United States government. The U.S., the United Kingdom and the European Union publicly expressed their support for Kovrig and Spavor to be released.

– China will cut tariffs on more than 700 goods effective Jan. 1. Among the imports included are fertilizer, iron ore, coal tar, wood pulp, some electronics and medical diagnosis machines. Also, some U.S. imports will be included, such as soybeans, sunflower and canola.

– The partial shutdown of the U.S. government enters its third day as the impasse between U.S. President Donald Trump and Democrats continues. Trump is demanding US$5 billion for a wall along the Mexican border is included in a new spending bill. Democrats, especially those in the House of Representatives, are refusing. The earliest opportunity to pass a revamped spending bill is Dec. 28, but Democrats said both sides are far from reaching a deal.

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